Ford to pay $750 mln severance to workers at Belgium plant
DETROIT, March 19
DETROIT, March 19 (Reuters) - Ford Motor Co expects to pay about $750 million in severance to hourly workers at its factory in Genk, Belgium, which the second-largest U.S. automaker plans to close by the end of 2014, the company said in a regulatory filing on Tuesday.
The plant employs about 4,000 hourly workers and 300 salaried employees. Negotiations over severance between Ford and salaried workers at the plant are under way.
Ford and its hourly workers reached a deal last week to go through with its plan to close the Genk factory.